The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Thomas Properties Group, Inc. (“Thomas Properties” or the “Company”) (NYSE: TPGI) and other violations of state law by the board of directors of Thomas Properties relating to the proposed acquisition of the Company by Parkway Properties, Inc. The firm’s investigation seeks to determine, among other things, whether the board of directors of Thomas Properties breached their fiduciary duties by failing to maximize shareholder value.
According to the press release announcing the proposed acquisition, Thomas Properties' shareholders will receive 0.3822 shares of newly issued Parkway common stock in exchange for each share of Thomas Properties common stock, for an implied price per share of $6.26 based on Parkway's closing stock price of $16.37 on September 4, 2013. According to Yahoo! Finance, at least one analyst following Thomas Properties has set a target price of $7.00 per share.
If you currently own common stock of Thomas Properties and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at firstname.lastname@example.org, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
Brower Piven, A Professional Corporation
Charles J. Piven, 410-415-6616
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